Dublin, April 25, 2023 (GLOBE NEWSWIRE) -- The "Cloud-based Contact Center Market- Global Industry Size, Share, Trends, Opportunity, and Forecast. 2018-2028 Segmented By Component (Solutions and Service), By Deployment (Public, Private and Hybrid), By Organization Size, By End-User, By Region, By Competition" report has been added to ResearchAndMarkets.com's offering.
Global Cloud-based Contact Center Market is anticipated to grow at a robust pace during the forecast period 2022-2028.
Customer needs, partnerships, application trends across vertical industries, including business and enterprise, and the need to develop new capabilities for the current market all contribute to the innovative nature of cloud-based contact centers. Cost reduction is one of the main factors influencing the growth of the cloud contact center.
Additionally, streamlined procedures provide a rapid implementation of the business value, easier distribution management, increased company flexibility, and cost savings, due to which market size is expected to grow rapidly during the forecast period.
Development of Remote Contact Centers Drive the Market
In the global cloud-based contact center market, industry players are becoming increasingly familiar with the concept of a contact center as a service. The cloud-based contact center company's innovative contact center as a service technology is aiding in effectively administering remote teams with collaboration options, including team chat and video.
In particular, the contact center as a service solution helped during the coronavirus outbreak to minimize the cost of ownership, reduce downtime, and ensure business continuity. It has been discovered that cloud communications as a service and system integration as a service make multi-channel communication conceivable; due to this technological expansion market is expected to rise during the forecast period.
Cloud-based contact centers have made it possible to manage a remote contact center staff, eliminating the need for calls to an outside vendor. With cloud-based contact centers, agents can be deployed across the country with the goal of putting them closer to customers. Numerous companies are implementing work-from-home policies for employees to reduce costs, owing to which the market is expected to register a high CAGR during the forecast period.
For instance, the Everest Group's research program claims that money saved on office space and other overheads can be used to hire local staff who can offer specific services. Additionally, hiring operate-from-home agents in the U.S. costs 5 to 10% less than hiring on-site specialists.
Contact centers have been developed to manage customer connections. The market would expand as multi-function devices are used more often to handle client connections. Modern technologies are used in contact centers to gather both inbound and outgoing calls. Emails, chats, and online queries have all experienced an increase in usage. Growing consumption of cloud, social media, and analytics technology by businesses can benefit a corporate success.
Adoption of AL/ML and CCaaS in Cloud-based Contact Center Market
Participants in the global cloud-based contact center market are paying attention to the idea of a contact center as a service (CCaaS). RingCentral, Inc. - the U.S. publicly traded supplier of cloud-based communications and partnership solutions for businesses, is being publicized for the CCaaS solutions that help to lower upfront investing and reduce I.T. staffing.
With collaboration options such as team chat and video, the new CCaaS technology in the cloud-based contact center marketplace is helping efficiently manage remote teams. During the COVID-19 pandemic, the CCaaS technology is supported to reduce ownership costs, improve performance, and ensure business continuity. Multi-channel connectivity has been proven possible via unified communications as a service (UCaaS) and cloud communications as a service (CCaaS).
In terms of retail, Amazon Connect, which mainly employs omnichannel cloud connectivity, is quickly becoming the standard for virtual contact centers in the retail industry. Offering great customer service at a reasonable price is made possible through this type of communication. In the retail contact center industry, there is an increasing need for customized, dynamic, and natural services. Artificial intelligence (AI) and machine learning (ML) technologies are used to automate exchanges, detect user emotions, and authenticate callers to enhance customer service. The latest trend of using AI (Artificial intelligence) and Machine learning Cloud-based contact center market is anticipated to rise with robust growth in the future.
Restraining Factors
Cloud-based contact center hosting has been demonstrated to be a major expense. To determine the sustainability of operating their business, market players are adopting contingencies and evaluating the risks and rewards related to their business models.
Report Scope:
In this report, the Cloud-based Contact Center Market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:
Cloud-based Contact Center Market, By Component:
- Solutions
- Service
Cloud-based Contact Center Market, By Deployment:
- Public
- Private
- Hybrid
Cloud-based Contact Center Market, By Organization Size:
- SMEs
- Large Enterprise
Cloud-based Contact Center Market, By End-User:
- Small Sized Organization
- Medium Sized Organization
- Large Sized Organization
Cloud-based Contact Center Market, By Region:
- North America
- United States
- Mexico
- Asia-Pacific
- India
- Japan
- South Korea
- Australia
- Singapore
- Malaysia
- China
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Poland
- Denmark
- South America
- Brazil
- Argentina
- Colombia
- Peru
- Chile
- Middle East
- Saudi Arabia
- South Africa
- UAE
- Iraq
- Turkey
Key Topics Covered:
1. Service Overview
2. Research Methodology
3. Impact of COVID-19 on Global Cloud based Contact Center Market
4. Executive Summary
5. Voice of Customers
6. Global Cloud based Contact Center Market Outlook
7. North America Cloud based Contact Center Market Outlook
8. Asia-Pacific Cloud based Contact Center Market Outlook
9. Europe Cloud based Contact Center Market Outlook
10. South America Cloud based Contact Center Market Outlook
11. Middle East & Africa Cloud based Contact Center Market Outlook
12. Market Dynamics
12.1. Drivers
12.1.1. Adoption of remote contact center
12.1.2. Multi-channel communication technology
12.1.3. Growing Consumption of Cloud, social media, and analytics technology.
12.2. Challenges
12.2.1. High installation cost
12.2.2. Cloud-based contact centers are strongly structured.
13. Market Trends & Developments
13.1. Adoption of ML and A.I. in contact centers
13.2. Attention towards CCaaS (Contact center as a service)
13.3. Advancement of collaboration options like team chat and video conferencing.
13.4. CCaaS solutions help to lower upfront investment and reduce I.T. staffing.
13.5. Customized, dynamic, and natural Services
14. Company Profiles
15. Strategic Recommendation
16. About the Publisher & Disclaimer
A selection of companies mentioned in this report includes
- Aspect Software, Inc
- BT GROUP PLC
- Cisco Systems, Inc
- Connect First, Inc
- Evolve IP LLC
- Five9, Inc
- Genesys
- Liveops, Inc
- Mitel Networks Corporation
- NewVoiceMedia Limited
For more information about this report visit https://www.researchandmarkets.com/r/9rh
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